TIU Canada Breaks Ground on Solar Energy Project in Nikopol:

(Nikopol, Ukraine) – June 12, 2017, TIU Canada Ltd. Broke ground on a 10-megawatt solar energy plant in Nikopol, Ukraine. The project represents the first investment by TIU Canada in Ukraine and the first Canadian investment under the Canadian-Ukrainian Free Trade Agreement. TIU Canada is owned and operated by the family office of Refraction Asset Management (RAM), an investment manager based in Calgary, Alberta Canada.

Michael Yurkovich, President of Refraction Asset Management, said, “we are pleased to take this first step in the Ukrainian renewable energy market”. Hani Tabsh, Chief Operations Officer for RAM read a letter from the Canadian Embassy in Ukraine addressed to the Nikopol City Council (attached) which cited this investment as “the start of a fruitful partnership which benefits all of Ukraine”. Nikopol Mayor Andriy Fisak, representatives from the Dnipro Oblast State Administration, and other local officials and media were also present for the event.